TSMC, a world-leading chip maker located in Taiwan, has seen its shares drop sharply amid an overall slowdown in the industry but is expected to maintain its dominant position with stronger revenue growth targets than last year.
Speaking at an investor conference on July 12, TSMC CEO C.C. Wei said that the company has raised this year’s sales growth forecast to 35 percent from the previous 30 percent predicted in June.
Earlier in June, CFO Wendell Huang said that TSMC was on track for 53 percent gross margin growth this year despite the deteriorating inflationary environment and increased costs for overseas plants.
The chip industry has also slowed down in 2022 due to a sluggish global economy, reduced consumer electronics demand, and rising inventories of products….